EUR Futures: correction lower expected to continue

In light of preliminary figures for EUR futures markets from CME Group, investors added more than 11K contracts to their open interest positions on Wednesday. Volume, in the same line, increased for the second session in a row, this time by around 12.6K contracts.

EUR/USD faces downside pressure

EUR/USD broke above the 1.1300 handle on Wednesday, although it closed the day at the lowest level around 1.1220, charting at the same time a ‘bearish outside day’. Rising open interest and volume coupled with this price action opens the door for a deeper correction lower and the resumption of the broader bearish view.